Intact Investment Management Inc. Reduces Position in CVS Health Co. (NYSE:CVS)

Intact Investment Management Inc. lessened its stake in shares of CVS Health Co. (NYSE:CVS) by 1.5% during the 3rd quarter, Holdings Channel reports. The firm owned 80,400 shares of the pharmacy operator’s stock after selling 1,200 shares during the quarter. Intact Investment Management Inc.’s holdings in CVS Health were worth $5,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Garland Capital Management Inc. boosted its holdings in shares of CVS Health by 0.3% in the 2nd quarter. Garland Capital Management Inc. now owns 60,810 shares of the pharmacy operator’s stock valued at $3,591,000 after acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of CVS Health by 7.2% in the 3rd quarter. Sound Income Strategies LLC now owns 2,397 shares of the pharmacy operator’s stock valued at $151,000 after acquiring an additional 162 shares during the last quarter. Plimoth Trust Co. LLC boosted its holdings in shares of CVS Health by 0.4% in the 2nd quarter. Plimoth Trust Co. LLC now owns 46,637 shares of the pharmacy operator’s stock valued at $2,754,000 after acquiring an additional 174 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of CVS Health by 3.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 5,268 shares of the pharmacy operator’s stock valued at $331,000 after acquiring an additional 178 shares during the last quarter. Finally, Pallas Capital Advisors LLC boosted its holdings in shares of CVS Health by 2.5% in the 2nd quarter. Pallas Capital Advisors LLC now owns 7,458 shares of the pharmacy operator’s stock valued at $447,000 after acquiring an additional 183 shares during the last quarter. 80.66% of the stock is owned by hedge funds and other institutional investors.

CVS Health Price Performance

Shares of NYSE CVS opened at $54.65 on Tuesday. The firm has a 50-day simple moving average of $59.58 and a 200-day simple moving average of $59.39. The stock has a market capitalization of $68.75 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 0.83. CVS Health Co. has a 52 week low of $52.77 and a 52 week high of $83.25.

CVS Health (NYSE:CVS) last issued its earnings results on Wednesday, August 7th. The pharmacy operator reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.10. The business had revenue of $91.23 billion during the quarter, compared to analysts’ expectations of $91.41 billion. CVS Health had a net margin of 1.98% and a return on equity of 12.72%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.21 earnings per share. On average, equities analysts predict that CVS Health Co. will post 6.41 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were given a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio (DPR) is 47.33%.

Analyst Ratings Changes

CVS has been the topic of several recent research reports. Evercore ISI upped their price objective on shares of CVS Health from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Wells Fargo & Company decreased their target price on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday. TD Cowen upgraded shares of CVS Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $59.00 to $85.00 in a research note on Friday, October 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $68.00 target price on shares of CVS Health in a research note on Wednesday, September 4th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, CVS Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.11.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.